Monitaur, a Boston, MA-based AI governance software company that provides, announced key advancements in AI governance and assurances for the insurance industry and secured $4.6 million in funding.
The round was led by Cultivation Capital, with participation from Rockmont Partners, Presidio Ventures, Plug and Play, and Studio VC.
“Building responsible and trustworthy AI is a complex challenge for insurance companies,” said Monitaur CEO Anthony Habayeb. “Our strong value proposition, commitment to the broader ecosystem, and shared vision with our new investors are fueling the company’s growth, and we are well-positioned for the future.”
Monitaur was founded on the mission to deliver software enablement of governance and assurances as the key driver of trust and confidence in AI.
The company has added customers, partners, board members, and regulatory leadership. Monitaur continues its commitment to the unique regulatory requirements of the insurance industry with the addition of Evan Daniels to its advisory board.
Company: Monitaur, Inc.
Funding Month: March 2023
Lead Investors: Cultivation Capital
Additional Investors: Rockmont Partners, Presidio Ventures, Plug and Play, and Studio VC
Company Website: https://www.monitaur.ai/
Software Category: AI Governance and ML Assurance Solutions
About the Company: Founded in 2019 by Anthony Habayeb, Andrew Clark, and Michael Herman, Monitaur is an AI governance software company that goes beyond good intentions. The Monitaur Machine Learning Assurance Platform helps enterprises and their partners build and deploy responsible AI and machine learning models that business leaders, regulators, and consumers can trust. The Monitaur ML Assurance platform is a SaaS suite of integrated products designed for companies using AI to make high-impact decisions. The platform’s integrated products GovernML, RecordML, MonitorML, and AuditML — empower AI/ML teams to deliver transparency, fairness, safety, and compliance for their high-impact systems. Monitaur is committed to improving people's lives by providing confidence and trust in AI. Monitaur was named to the Guidewire Insurtech Vanguards initiative, a community of select startups and technologies bringing transformative solutions to the P&C industry.